Genworth CEO resigns as earnings released

SAN FRANCISCO (MarketWatch) -- Genworth Financial Inc.
GNW, +2.06%
said late Tuesday its first-quarter income declined and that its chairman and chief executive, Michael Fraizer, resigned. Genworth reported a quarterly profit of $47 million, or 9 cents a share, compared with $59 million, or 12 cents a share, in the year-ago period. The firm reported operating income of 6 cents a share for the quarter. Revenue fell to $2.43 billion from $2.57 billion last year. Analysts surveyed by FactSet Research estimated a quarterly profit of 13 cents a share on revenue of $2.6 billion. The firm named Martin Klein acting CEO and James Riepe non-executive chairman of the board. Shares of Genworth rose 5.7% to $6.50 in after-hours activity.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.